558 LAWS OF MARYLAND. [CH. 536
CHAPTER 536.
(Senate Bill 399)

AN ACT to authorize the Mayor and Council of Keedys-
ville, Washington County, to borrow Fifty Thousand
Dollars ($50, 000. ) upon the faith and credit of said town
for the purpose of providing streets, sewerage or water
systems or other public improvements for said town and
to issue bonds therefor and to levy municipal taxes to
pay the principal and interest of said bonds and provid-
ing for a referendum on such bond issue.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That the Mayor and Council of Keedysville, in Washington
County, a municipal corporation of the State of Maryland,
is hereby authorized to borrow upon the faith and credit
of said Town the amount of Fifty Thousand Dollars
($50, 000. ) and from time to time to issue and sell bonds
not exceeding said sum of $50, 000., said bonds to be signed
by the Mayor and countersigned by the Clerk of said
Town and to be sealed with the seal of the Town. The
entire proceeds of such bonds, after payment of costs of
engraving and all other incidental costs and expenses con-
nected with the issuance of such bonds, shall be used,
either alone or in connection with any Federal funds which
may be made available, to provide a sewerage system,
water system, public streets or other public improvements
for said Town, the particular purpose or purposes to be
determined by said Mayor and Council.

SEC. 2. And be it further enacted, That the Mayor and
Council of Keedysville shall have authority to prescribe,
by ordinance or resolution, the form and tenor of such
bonds, the rate of interest not exceeding 5 per cent., the
dates of issuance, the portions of said bonds to be issued
from time to time at specified dates, and the time and place
for the payment of said bonds and interest. Such bonds
shall be in coupon form, shall be in denominations of $100.
or any multiple thereof and may be made registerable as
to principal. Such bonds shall be issued upon a twenty-
year serial maturity plan and a portion thereof shall be
retired annually. Such bonds shall be exempt from all State,
County and municipal taxation and shall have printed on
them a distinct reference to the Act authorizing their
issuance.

SEC. 3. And be it further enacted, That after the issu-
ance of such bonds authorized by this Act and until all